Yup, volume on this little upswing to 1.3540 looks somewhat light - though I’m in work and I’m not sure yet how accurate the volume is in the Netdania Java client I use here.
Just forget about volume accuracies, I can load up 3 different Metatraders, and the volume will be different in each, but they all have one thing in common - a spike is a spike.
Look like a ticking time bomb to me…
Shame I don’t know what to do anymore; got too involved and emotional.
Red Beard - see that volume spike you have there, that shows market strength, my interpretation is for it to drift upwards.
I had thought that, but it seems to be dithering and taking its time.
How long do you guys typically wait to trade?
How do you fight it; etc. Do you set alarms etc?
I am finding the waiting hard, and I’m not proficient at scalping yet to make the waiting worthwhile.
I know it’s a matter of practice, but I think I need a tip on how to hone the killer instinct and not panic like the herd.
I’m pretty new to this, but it looks like you get good opportunities 2 or 3 times a day.
I’m a very experienced trader and I wish I had come across this when petefader started the thread, it’s blown me away! In a good way!
Well I’m teething still, and cranky to boot about it.
Problem is that I think I can see it, but the implementation is hard. There is a HUGE difference between my practice account and the dribbles I have in the real one.
I am glad I found this at this early stage, I consider my losses as payment for the education. I think I have watched the video about 4 times so far, each time it gets easier to understand, and I find myself getting impatient.
Anyway. This seems like a good place. I’m going to crash out now and dream about numbers…
Closed out the E/U short from earlier for +18 pips after seeing what looked like absorption demand appearing at the NY open.
Re-entered at 1.3555 after seeing similar wicky resistance as this morning (on a bit less volume though) even though US equities are on yet another melt-up. Friday afternoon mightn’t be a great time for this trade.
High volume up moves, some with long bottom wicks on reversal of 61.8 and 50 fib lines.
TP Taken.
Yep good catch. I realised a little late about the potential for the scale of the upswing. Was concentrating too much on shorting and not examining other potentials enough. I should’ve looked at the daily chart a bit closer which had the 50% retracement from from the late Oct. drop at 1.3622 - was an obvious target for bulls once the resistance gave way in the afternoon. Cost me 18 pips so no gain today. Still, impressed with the results from applying stuff learned in this thread and Master the Market.
Typical friday. Only loosing. 
I should start my weekend when it’s thursday. I woulda made more money by going in bar. 
Well actually, I woulda lost less in bar than in market. Or best idea, get friday work…
To each his/her own I know, and take my advice with a pinch of salt.
The way I do it is, once you have the overall picture of what’s going on, (your 1hr or 4hr charts) take a look at a 5 min chart and wait for reaccumulation on that particular chart to pin point your entry, as long as it is within context with your larger timeframe.
Pivots, fibs, natural support/resistance levels, etc, will serve as an excellent point of reference when looking for this signs to pull the trigger.
Once you have a clear idea of the big picture, a 5 min chart is not noisy anymore and is not just intended for scalpers.
I’m glad more and more people is contributing to this thread everyday. VSA is like the x-ray vision glasses that we need at important levels in order to act accordingly.
Thanks Pete for bringing the topic to the forum.
I forgot to mention.
The fact that market is showing signs of accumulation/distribution, doesn’t necessarily mean that a change in direction is around the corner. That’s why sometimes we experience choppy reaction after high volume is presented.
Not every order can be absorbed by smart money at once hence we need later phases of re-accumulation/re-distribution before a big move happens.
Hi guys,
Very nice and interesting thred. I’ve tried to understand something, but I’m an absolute beginner, so 90 and more pages to read are a little bit difficult for me to understand.:o Could anyone share a pdf (or something) and indicators please?
Thanks!!
Indicators…lol. You might want to read the first post and then jump to the second half of this thread if you’re not into reading the whole thing. There is also a link to the book “Master The Markets” you will come across.
ps …good stuff Dodge and wrtm19.
Yes Indicators are a big No No, I tried a couple when I started looking into this, and petefader said they were pretty much a waste of time, and boy is he right, they can really mess it up actually.
Here are links to a couple of must read posts on this thread
Just taking a look at daily symmetry. All 3 white lines I have drawn are the same size. That brings this move to roughly 61.8, possible top there…would make perfect sense. Might take a day or two.
If price gets there then we’ll know what to look for to get short, using smaller TFs. Stopping Volume etc.
…thanks ppf.
Sorry, I had to.
I posted that December 23rd. I have no crystal ball, just candles and Volume.
Good going petefader, if you don’t blow your own trumpet no one else will - go for it.
I think this also suggests a top here too.
Looks like a lot of high volume “distribution” (accumulation in the short direction) over the last few days. I don’t expect it go to up much further, maybe to the 161.8 expansion (blue line) before a big move down.
